Economic Update

Lucy Allan Excerpts

Thursday 3rd February 2022 Commons Chamber

[Rishi Sunak]

I am happy to confirm to the hon. Gentleman that the Barnett consequentials for Scotland will be around £290 million, which I hope he will welcome. My right hon. Friend the Chief Secretary to the Treasury will be speaking to Kate Forbes later today to go over the details, and I very much hope that the Scottish Government will choose to do something very similar to what we are doing, to the benefit of Scottish citizens. Of course, Scottish citizens will benefit from the rebate scheme on bills, because that is a Great Britain-wide policy, as I outlined.

With regard to the hon. Gentleman’s broader points on the North sea, there is a clear point of difference between us on the Government side of the House and the SNP. We believe in the future of the North sea, in the oil and gas industry, and in the 200,000 jobs it supports, and we want to ensure it plays an important part in our transition to net zero. I hope he can see that that is the right thing for Scotland and will join us in supporting that very important industry.

[Lucy Allan (Telford) (Con)]

I thank my right hon. Friend for his excellent statement, and particularly for the thoughtful and progressive nature of the actions he plans to take. Does he agree that it is right to help not only the poorest, but those on middle incomes who are struggling with their household budgets?

[Rishi Sunak]

My hon. Friend is absolutely right; I know that is something she is perhaps bringing up on behalf of her constituents. A price increase of this magnitude impacts almost everybody, and it is right that our response therefore helps almost everybody. That is what we are doing: ensuring that those families who are working hard on household incomes of £40,000 or so will still get £150-worth of support. Four out of every five households will benefit. We are on the side of hardworking families like those, and I make no apology for it.